In September, GMAC had put the brakes on foreclosures in 23 states following the revelation that some lenders had put expediency over accuracy and hired so-called “robo-signers,” untrained rubber stampers who pushed foreclosure paperwork through, often without review. The result was improper foreclosures and illegal evictions.

Now that these two banks have returned to foreclosing on properties, the White House said today that all banks need to take greater care in guaranteeing that they follow the law when foreclosing on a property.

“As institutions are determining their next steps in addressing these issues, we remain committed to holding accountable any bank that has violated the law,” White House spokesman Robert Gibbs said in a statement. “In addition to strongly supporting the investigation by the state attorneys general, the administration’s Federal Housing Administration and Financial Fraud Enforcement Task Force have undertaken their own regulatory and enforcement investigation into the foreclosure process.”

Most foreclosures are not disputed. It would be impossible to determine how many factual errors there were. I have anecdotal evidence from friends who practice in foreclosure law that a large number of the foreclosures they fight have errors of some kind.

Whether there were “factual errors” is beside the point, really. Again, two words spring readily to mind: Due Process. Two more would be: Due Diligence. The mortgage-holders are responsible to have their papers in order as proof in a court of law. They are also responsible to submit truthful, factual evidence, handled by people who not only claim they have knew about the circumstances of the foreclosure in question, but actually DID know about the circumstances. “Robo-signers” means submitting false evidence and/or perjury. This is not how you do things in a court of law, regardless of whether the foreclosure itself was warranted.

How about the government put a freeze on foreclosures until things are figured out. I hate to think someone would lose their home when they were not at fault or the bank had no holding on the mortgage. Kinda hard to un-do without major damage to the homeowner.

I’m sure that BoA, GMAC, WellsFargo, Chase, JP organ, et al, took this very seriously and had the entire staff of the bank combing all the documents for errors and omissions. They will now start a continued program of ramping up campaign donations to both parties until this matter is resolved to everyone’s satisfaction.

This is more of the same from this administration. Take a corporation to task for exercising its rights. THESE PEOPLE DIDN’T PAY THEIR MORTGAGES … the companies are supposed to say “oh, gee, that’s ok … we were just kidding anyway when we made you sign all those papers and gave you hundreds of thousands of dollars.” 2 more years of this?

No. A thousand times, no. No one said that the banks cannot exercise their rights per the contract to foreclose. Only that, when utilizing the courts to enforce that remedy, they actually exercise due diligence and not submit false documents and perjuring affidavits. Is this really too much to ask of the beloved banks? Really?

I’ve said it before… A mortgage involves hundreds of thousands of dollars. There’s a paper trail associated with it. Asking the lender to maintain the integrity of that paper trail *IS NOT ASKING TOO MUCH* If that $400K is not important enough to BofA, or Ally or whoever for them to hold onto a file folder’s worth of papers in a warehouse, then they shouldn’t be allowed to recover it by foreclosing on the homeowner.